Excellent Double Storey Unit, BEENLEIGH QLD

homegirl

homegirl

URGENT SALE NEEDED, NO WORK TO DO!!!
$235,000 gets you:
Fully renovated March 2008 (unoccupied since then due to being on the market) PIC
2 Bedrooms, large master with BIR and private deck PIC
Brand new bathroom (2 new toilets, one downstairs) PIC
Brand new kitchen PIC
Brand new timber-look flooring (in kitchen/living/laundry/downstairs w/c) PIC
Front and back decks (small private back courtyard with new timber decking and colourbond fencing) PIC1 PIC2
Total unit re-painted PIC
New insulation installed
1 allocated semi-enclosed carport
Very quiet block, set well back off central main street
Lowest body corp fees in the area

UNBEATABLE location: 5 mins walk to train, bus and 2 major shopping complexes, on the nicer side of the city (smack bang on the Mount Warren Park/Beenleigh border). 1 min to the M1, 30mins to Brisbane city, 30 mins to Gold Coast beaches.

Currently untennanted but on the rental market for $240 per week (as advised by local agents)

Body Corp fees: $1200 annually
Rates: $800 annually (Gold Coast City Council)

EXCELLENT development/growth forecasts/town planning for Beenleigh can be found here: http://www.goldcoast.qld.gov.au/gcplanningscheme_new/Support_files/scheme/06_01_lap_beenleightc.pdf
http://www.goldcoast.com.au/article/2008/02/08/7538_commercial-property.html
http://www.realestatemagazine.com.a...cations::Article|||Investar+Info+Australia|||
http://www.realestatemagazine.com.a...cations::Article|||Investar+Info+Australia|||
http://www.goldcoast.qld.gov.au/attachment/suburb_stats/beenleigh.pdf
http://www.goldcoast.qld.gov.au/attachment\cultural\beenleigh_and_sugarcane_land_study.pdf

PM me for detailed photographs and any further questions.
 
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works out to be about 5.3% yield after fees and rates...?

i'm trying to get my parents to look at this, keep us updated yeah?
 
where is the fridge recess....?
 

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Hi all,

Homegirl, What would make this a good investment???

In 2002, these type of townhouses were around $50-$60k, why would an investor be interested in this??? What makes you think there is future growth??

Short term or long term??

I am only asking what the guidelines for posting in this thread tell you to do.

bye
 
Gee Bill

I thought that this forum was become a cheap way to advertise any old mediocre property:rolleyes:

One that appeared recently where I had a bit of a nibble seemed to have some possibilities but this turned out not to be the case none the less I made a low ball offer which really only pitched it at a price level that ignored the 'special conditions'. Their response ' I can get that sort of money from local market' doh:(

Cheers
 
homegirl said:
URGENT SALE NEEDED, NO WORK TO DO!!!

%PM me for detailed photographs and any further questions.
Click to expand...
It will be hard to get that price in Mt Warren Park one of my mates has a few ips near that property ,he always seems to have problems with renting the properties out,those area's are always the first to get hit in any property slump,just have to ask how long has the property been vacant,and why?..willair
 
Hi all! The fridge recess is behind that little wall that seperates the kitchen and laundry, on the left in the kitchen pic. It's a large laundry area, we had a big 460Lt fridge there easily, with plenty of room for a front loader and dryer.

It has been vacant due to renovations, we were renting it out privately before that (after we moved out of it), due to the fact that we were moved interstate at short notice by Defence. We currently have it on the rental market, and have had not had a problem getting applications, but we've put them on hold pending a sale.

Beenleigh still has excellent growth potential, due to the expanding of the Yatala industrial estates, the refurbishments and new developments through the city by large investors (Aldi going in, Beenleigh Plaza being completely refurbished, also with cinemas), the new zoning and highrise changes to the local town planning regulations and the M1 upgrades, all of which you can view in the GCC links I provided in my initial post.

Why would it make a good investment? Because in my thread on whether I should sell or hold this property, the other respondants told me to hold as it will be a good investment ;)

We are very negotiable due to the fact that we are looking at property in Canberra at the moment and the bank won't play ball until this unit is sorted....due to the fact that property in Canberra is so freaking expensive.
 
willair said:
It will be hard to get that price in Mt Warren Park one of my mates has a few ips near that property ,he always seems to have problems with renting the properties out,those area's are always the first to get hit in any property slump,just have to ask how long has the property been vacant,and why?..willair
Click to expand...

I Don't know about that WIll,

I have a unit at Mt Warren Park and had tenant's lined up for it . . but that was 18 mths ago, and I dare say it seems to be a "wanted" complex.

It depends on the unit/complex. For example: Anyone with a unit in Linning Street would have trouble. Is that where your friends units are?

My two bed, UN-renovated unit just had a val of 225k - 3 weeks ago.

Without further investigation, Homegirl's price seems pretty spot on to me.

How many units in the block, Homegirl. Owner occupied or mostly rentals?


Regards JO
 
josko said:
I Don't know about that WIll,

I have a unit at Mt Warren Park and had tenant's lined up for it . . but that was 18 mths ago, and I dare say it seems to be a "wanted" complex.

It depends on the unit/complex. For example: Anyone with a unit in Linning Street would have trouble. Is that where your friends units are?

My two bed, UN-renovated unit just had a val of 225k - 3 weeks ago.

Without further investigation, Homegirl's price seems pretty spot on to me.

How many units in the block, Homegirl. Owner occupied or mostly rentals?


Regards JO
Click to expand...

Was looking at Mt Warren a while ago:(

Any other areas of interest around there; good and bad areas of BEENLEIGH etc?

Eagleby, Cairns/Cairns North :confused:
 
redwing said:
Was looking at Mt Warren a while ago:(

Any other areas of interest around there; good and bad areas of BEENLEIGH etc?

Eagleby, Cairns/Cairns North :confused:
Click to expand...

I guess the badISH area of Beenleigh would be closer to the freeway.. Eagleby is def an even lower socio-economic area than Beenleigh.

The better part of Mt Warren pk is East of Beenleigh Rd, apart from Linning St. (Bad block of units).

Regards Jo
 
Our unit is in a mostly owner-occupier block, in a quiet and very well maintained block of only 18, which is one of the reasons we intially purchased it. We have lived there and I can honestly say I was suprised at how quiet and friendly (and un-derro ;)) the neighbours were! The onsite Body Corp rep is lovely, albeit strict, and reports any dodgy tennants/behaviour to the relevant agents (for the non owner-occupied units), she runs a tight ship and we are confident for her to keep an 'on-site' eye on our unit if we do have it managed by an agent.

The unit is in a better part of Beenleigh (we researched this thoroughly before buying, I wasn't going to live in a dodgy area, snob that I am :rolleyes:), we found that most of the utilities services classified it as Mount Warren Park (as does the postal address), but some specify it as Beenleigh (and our agent thought this was a better 'selling point') as it is right on the border.

On a note to the rent sceptics for this area: we had 3 very good applications last week but ended up taking the unit off the rental list, due to wanting to sell...no shortage of tennants IMO.
 
josko said:
I guess the badISH area of Beenleigh would be closer to the freeway.. Eagleby is def an even lower socio-economic area than Beenleigh.

The better part of Mt Warren pk is East of Beenleigh Rd, apart from Linning St. (Bad block of units).

Regards Jo
Click to expand...

HAhahaha, Josko! We looked at a unit in Linning St, but were a bit put off by the numerous early 90s Commodores on blocks in the driveways, being leaned on by beer-swilling groups of men, wearing wife-beaters, stubbies shorts and thongs......I am trained in Fashion design, but this was a whole other PLANET of style!
 
homegirl said:
HAhahaha, Josko! We looked at a unit in Linning St, but were a bit put off by the numerous early 90s Commodores on blocks in the driveways, being leaned on by beer-swilling groups of men, wearing wife-beaters, stubbies shorts and thongs......I am trained in Fashion design, but this was a whole other PLANET of style!
Click to expand...

Homegirl, Yes me too! Couple of guys walking around with beer stubbies at 10am, alot of snotty nosed kids and all those commodores!

I asked the Real Estate Agent why the front door was brand new on the unit we were looking at. (the rest of the unit was a mess!) He told me it had been kicked in.

And I would love to make you an offer, but my husband would divorce me!:eek:

Keep going, it is a hard market now. Good luck!:)

Regards Jo
 
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